Weekly Insights: Why Financial Literacy Is Failing People

In this episode, I’m tackling the commonly used term "financial literacy" and why it might be leading us astray. There are limitations of traditional financial literacy and it’s why so many individuals struggle with managing their finances despite possessing basic financial knowledge. The correct approach is a concept called financial capability—a comprehensive framework that goes beyond mere literacy to empower individuals with the skills, attitudes, and behaviours necessary for long-term financial well-being.Whether you're a seasoned investor or just starting your financial journey, this episode will equip you with the tools and mindset needed to thrive in today's complex financial landscape.----------------Key moments:00:00 - 02:06: Rethinking Financial Education: Beyond Literacy02:07 - 04:49: Financial Capability: Bridging Knowledge and Action04:50 - 06:23: Transforming Theory into Financial Success06:24 - 07:42: Empowering Financial Fluency for Collective Prosperity07:43 - 08:21: Join the Movement: Building Financial Capability------------------Saijal Patel, CFA, is a former CNBC and BNN journalist and passionate financial wellness advocate. She's bringing Strictly Money directly to you via YouTube, Apple Podcasts, Spotify and where ever you get your podcasts.Connect on LinkedIn: https://www.linkedin.com/company/saij-elle/Follow on X: https://twitter.com/strictlymoneytvGet in touch: https://saijelle.com/contact-us/Join Saij Elle’s FREE Money Masterclass for Women: https://courses.saijelle.com/master-class/